Skip Navigation
0 of 0 Displaying
 |   Displaying

No Results

    PNB MetLife Loan and Life Suraksha

    A flexible plan with Loan Protection Cover

    Group Non Linked Non-Participating Pure Risk Premium Life Insurance Plan | UIN: 117N080V02

    A group life insurance policy linked to loans, the PNB MetLife Loan and Life Suraksha provides cover on outstanding loan amounts to ensure the security of loans in case of unfortunate events.

    PNB MetLife Loan and Life Suraksha in a nutshell
    • Joint life option.
    • Increases loyalty among customers.
    • Reduce default risk due to customer death.
    • Flexible plan with coverage options.

    Get a Callback

    OTP sent successfully

    Thank you for getting in touch with us. We will contact you shortly.

    What you get

    PNB MetLife Loan and Life Suraksha ensures that it:
    • Provides competitive edge to your existing product portfolio
    • Increases loyalty due to additional protection
    • Reduces default risk due to a customer’s death
    • Allows you to maintain a long-term relationship

    What you don’t get

    Frequently Asked Questions

    Expand All Collapse All

    What is PNB MetLife Loan and Life Suraksha?

    Collapsed Expanded

    PNB MetLife Loan and Life Suraksha Plan is a group life insurance policy linked to loans. This policy provides life insurance policy plans that provide a cover on the outstanding loan amount so that your customers do not have to bear the burden of a loan in case an unexpected event strikes. This loan insurance scheme also has additional features such as joint life option, multiple premium payment options and hassle-free issuance on group platform.

    • Coverage Options - There are two coverage options available
    • Reducing Coverage Option: Suitable for mortgage, educational & auto loans
    • Level Coverage Option: Provides the same cover throughout the term

    What does PNB MetLife Loan and Life Suraksha ensure?

    Collapsed Expanded
    • Provides competitive edge to your existing product portfolio
    • Increases loyalty due to additional protection
    • Reduces default risk due to a customer’s death
    • Allows you to maintain a long-term relationship

    What are the key benefits of this plan?

    Collapsed Expanded
    • Joint life option.
    • Increases loyalty among customers.

    What are the Product Benefits of this plan?

    Collapsed Expanded

    Death Benefit

    • In the event of death of an insured member, the plan provides for the payment of lump sum Death Benefit amount as specified in the Certificate of Insurance issued to each member on admission to this group scheme
    • In case of Joint Lives, Sum Assured is paid on death of first life and policy stands cancelled and no further benefits are payable.

    Joint Life Option

    • Joint Life coverage option is available for housing loan, other mortgage loans & Education loans subject to following conditions.

    Increase in Sum Assured

    • The design of this policy gives the flexibility to the Group Policyholder to increase the Sum Assured for their members due to increase in loan from as minimum as Rs.5,000 per member.
    • Increase in Sum Assured to the member is subject to underwriting conditions and the terms and conditions as stipulated by the Company
    • On increasing the insurance coverage, fresh Insurance certificate will be provided for extended portion, subject to payment of premiums prevailing at the point in time.

    Moratorium Option

    • This option is available for those members who have opted for moratorium on the repayment of principle amount for a period of not more than 7 years on their loans.
    • The mortarium option has to be provided by the loan offering institution and PNB Metlife will prepare loan schedule accordingly.
    • The moratorium option is available only for Mortgage Loan and Education Loan customers whose term is atleast 5 years or more.
    • The moratorium option once chosen cannot be altered during the Policy tenure.

     What are the eligibility criteria for this plan?

    Collapsed Expanded

    Plan parameters

    Minimum

    Maximum

    Age at entry of Person Insured

    15 years (*)

    65 years

    Policy Term

    2 years for Single Pay 5 years for 5 Pay 10 years for 10 Pay

    25 years for Single & 5 Pay30 years for 10 Pay

    Maturity Age of Person Insured

    -

    70 years

    Group Size

    50 Lives

    No Limit

    Sum Assured per member

    Rs. 5,000

    Unlimited

    Premium

    Based on the chosen Sum Assured

    Premium Paying Options

    Single Pay, Limited Pay 5 Years & Limited Pay 10 Years

    Premium Paying Modes

    Single, Yearly, Half-Yearly, Quarterly, Monthly(1) & Payroll Saving Program

    *Age last birthday
    (1) Electric Clearing Service (ECS) is mandatory for monthly mode.
    (*) For Educational Loans and for all other loans, 18 years 

    How can I buy PNB MetLife Loan and Life Suraksha?

    Collapsed Expanded

    You can buy this plan offline through any of the following methods:

    Disclaimer:

    AD-F/2020-21/00334

    Disclaimer

    Collapsed Expanded

    As your trusted life insurance partner, PNB MetLife is with you amidst the current COVID-19 outbreak. Our policies also cover COVID-19 Claims. In case of a Death Claim, kindly submit the signed Claim Intimation Letter mentioning the policy number, brief of the insured event and other claim documents on the email mentioned herewith. Please write-in to us at claimshelpdesk@pnbmetlife.com or indiaservice@pnbmetlife.co.in. You can also call us on 1800-425-6969 for death claims intimations and for any queries on Monday - Saturday between 10:00 am - 7:00 pm.

    PNB MetLife Insurance, amongst the trusted Life Insurance companies in India, aims to provide a wide range of Life Insurance products that suits the needs of an individual at every stage of his life. Life Insurance Plans range from Term Life Insurance PlansTerm PlanProtection PlansLong Term Savings Plans , Retirement Plans & Child Education Plan.

    Site best viewed in following browsers
    Chrome 70+ , IE 11+, Firefox 76+, Safari 11+